Managers and (Secret) Social Networks: The Influence of the Freemasonry on Firm Performance

Braggion, Fabio

doi:10.1111/j.1542-4774.2011.01031.x

Cited by 23 publications

(2 citation statements)

References 37 publications

(65 reference statements)

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“…Another variable that captures firm transparency is the dummy variable Officially Listed (0/1), that equals one if the company had any class of its outstanding shares officially listed in London and traded on the floor, and equals zero otherwise. Being officially listed and traded should make a significant difference in the amount and quality of information that is available about the corporation, especially in the early years of the Twentieth century (Braggion (2011)). …”

Section: A Independent Variablesmentioning

confidence: 99%

A Century of Firm – Bank Relationships: Did Banking Sector Deregulation Spur Firms to Add Banks and Borrow More?

Braggion

Ongena

2012

SSRN Journal

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We study how relationships between firms and banks evolved between during the Twentieth century in Britain and we relate it to firms' borrowing policies and leverage ratios. We document and explain a remarkable transition from single to multiple firm-bank relationships during the last twenty years of the sample period. Larger, global, or transparent companies with greater needs for bank credit and specialized services were more likely to add a bank, especially when located in un-concentrating local banking markets. Deregulation and intensifying competition in the banking sector during the 1970s therefore seemingly spurred banks to supply credit and services through multilateral arrangements. Firms that add a bank following deregulation borrow more than similar firms that do not add a bank, and their bank debt expands while their trade (and other) credit contracts. (131 words)

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Section: A Independent Variablesmentioning

confidence: 99%

A Century of Firm – Bank Relationships: Did Banking Sector Deregulation Spur Firms to Add Banks and Borrow More?

Braggion

Ongena

2012

SSRN Journal

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“…It is unlikely that enterprises will abandon social-oriented activity due to risk aversion. The close relationship between enterprises and financial institutions provides financial guarantees for the resources needed to achieve social goals ( Braggion, 2011 ). The goal of this study is therefore to explore the influence of financing and resource allocation on social goal orientation by studying the relationship between enterprises and their financial stakeholders.…”

Section: Research Design and Hypotheses Developmentmentioning

confidence: 99%

Stakeholder relationships and corporate social goal orientation: Implications for entrepreneurial psychology

Sheng

Xiao

et al. 2022

Front. Psychol.

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As the sensitivity to corporate social responsibility (CSR) continues to grow, the goal of enterprises has expanded beyond the sole pursuit of economic value. Corporate social goal orientation has therefore come to occupy a central position in entrepreneurs’ psychology and the transition away from a market-only economy. This study uses secondary data from 4,288 samples of 725 Chinese-listed companies from 2009 to 2020 to explore the driving factors in social goal orientation based on the characteristics of sample companies and their industry groups from the perspective of stakeholder relationships. The results can be summarized as follows: (1) there is an inverted U-shaped relationship between government stakeholder relationships and social goal orientation, and there is a significant positive relationship between financial stakeholder relationships, market stakeholder relationships, and corporate social goal orientation. (2) The correlation between single-dual stakeholder relationships and social goal orientation is not consistent. In light of the nature of the roles of government and the market, the correlation between the government–market dual relationship and corporate social goal orientation is not significant. However, there is a significant correlation between the finance–government dual stakeholder relationship and social goal orientation; that is, the dual stakeholder relationship maintains the existence of non-institutional capital and corporate financial capital. Moreover, there is no significant correlation between the market–finance dual relationship and corporate social goal orientation, and there is substitutability between market and financial stakeholder relationships. With the deepening of our understanding of CSR, the core goal of enterprises is no longer confined to the pursuit of economic value, and their social goal orientation has come to be regarded as a major driving force in sustainable development. This study enriches the research on the relationship between stakeholder relationships and shows that stakeholder relationships also have important significance to both achieving corporate goals and shaping entrepreneurs’ psychology.

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Relational capital in lending relationships: evidence from European family firms

2018

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In this paper we empirically investigate the effects of active family involvement in the company's management on bank-firm lending relationships and access to credit. Based on the trade-off between relational and management human capital, we explore whether the relational capital embodied in the family leadership of the company influences the lending relationships with the main bank in terms of information sensitivity and duration. Then, we test whether family firms with family CEOs are more likely to experience a credit restriction from banks than family firms appointing professional CEOs external to the family. Results indicate that family businesses appointing family managers are significantly more likely to maintain soft-information-based and longer-lasting lending relationships. However, having family executives does not have a negative impact on firm's access to credit, while the creation of softinformation-based and long-lasting lending relationships significantly reduces the likelihood of experiencing credit restrictions. In view of these findings, family relational capital seems to have a univocal beneficial impact on bank-firm relationship in our sample.

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Managers and (Secret) Social Networks: The Influence of the Freemasonry on Firm Performance

Cited by 23 publications

References 37 publications

A Century of Firm – Bank Relationships: Did Banking Sector Deregulation Spur Firms to Add Banks and Borrow More?

A Century of Firm – Bank Relationships: Did Banking Sector Deregulation Spur Firms to Add Banks and Borrow More?

Stakeholder relationships and corporate social goal orientation: Implications for entrepreneurial psychology

Relational capital in lending relationships: evidence from European family firms

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